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NATIXIS : FIRST QUARTER 2010 RESULTS


//stocks-investing.news-articles.net/content/2010/05/11/natixis-first-quarter-2010-results.html
Published in Stocks and Investing on Tuesday, May 11th 2010 at 11:50 GMT by Market Wire   Print publication without navigation


--(Marketwire - May 11, 2010) - Paris, May 11, 2010

First quarter 2010 results

Turnaround initiated 9 months ago is confirmed

 +-------------------------+ |Results reflecting the | |strong operating | |performances of the | |businesses | +-------------------------+ |NBI1 of the businesses: | |€1,641 million, up 24% vs| |Q1-20092 | +-------------------------+ |Income before tax1: €555 | |million, multiplied by 3 | |vs Q1-20092 | +-------------------------+ |Net income (Group share):| |€464 million | +-------------------------+ +-------------------------+ 
 +-------------------------+ |Further strength in | |financial structure | +-------------------------+ |Core Tier One ratio: 8.5%| |(vs 8.1% at 12/31/2009) | +-------------------------+ |Tier One ratio: 9.5% (vs | |9.1% at 12/31/2009) | +-------------------------+ |Risk-weighted assets | |remain stable | +-------------------------+ +-------------------------+ 
 +-------------------------+ |New Deal initiatives | |continue to be rolled out| +-------------------------+ |Reorganization of the CIB| |with the creation of a | |Coverage division | |independent from the | |commercial banking | |operations | +-------------------------+ |Proprietary Private | |Equity business: | |repositioning currently | |being finalized | +-------------------------+ |Confirmed 2010 NBI | |target: over €6 billion | +-------------------------+ +-------------------------+ 
1 Excluding the GAPC and net income from discontinued operations.

2 As the super-subordinated debt securities have been reclassified as equity instruments, the interest expense relating to these instruments has not been recorded in the income statement since 01/01/2010. The 2009 results given in this media release have been restated accordingly.

Natixis' consolidated results were approved by the Board of Directors on May 11, 2010.

The full press release is available in attachment.

This information is provided by HUGIN


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